Government Notices

States Set to Investigage Depakote

Attorneys general in eight states are investigating Abbott Laboratories over the sales and marketing of the epilepsy drug Depakote, and whether the company violated state consumer protection laws.

Abbott is currently in settlement negotiations with the U.S. Department of Justice over the illegal promotion of Depakote for unapproved uses. Depakote is currently approved by the FDA as a treatment for epilepsy, manic stages of bipolar disorder, and migraine headaches.

Attorneys general from the states of Illinois, Ohio, Oregon, South Carolina, Texas, North Carolina, Florida, and Pennsylvania have formed an investigative committee, and are joined by attorneys general from unidentified other states.

Abbott current and former directors and executives are facing as many as eight lawsuits filed in state and federal courts by several public-employee pension funds over breach of fiduciary duty regarding the sales and marketing of Depakote.

Abbott has set aside $1.5 billion for the Justice Department settlement.

This entry was posted on Thursday, February 23rd, 2012 at 10:34 pm and is filed under Uncategorized.

States Set to Investigage Depakote

Date Published: Thursday, February 23rd, 2012

Attorneys general in eight states are investigating Abbott Laboratories over the sales and marketing of the epilepsy drug Depakote, and whether the company violated state consumer protection laws.

Abbott is currently in settlement negotiations with the U.S. Department of Justice over the illegal promotion of Depakote for unapproved uses. Depakote is currently approved by the FDA as a treatment for epilepsy, manic stages of bipolar disorder, and migraine headaches.

Attorneys general from the states of Illinois, Ohio, Oregon, South Carolina, Texas, North Carolina, Florida, and Pennsylvania have formed an investigative committee, and are joined by attorneys general from unidentified other states.

Abbott current and former directors and executives are facing as many as eight lawsuits filed in state and federal courts by several public-employee pension funds over breach of fiduciary duty regarding the sales and marketing of Depakote.

Abbott has set aside $1.5 billion for the Justice Department settlement.

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